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FRIDAY, MARCH 7, 1986
THE SANCTIONS IN SUPPORT OF THIS REQUIREMENT LARGELY PARALLEL THOSE IN THE CASE OF THE CAPITAL TO RISK ASSETS RATIO, IN THAT A CONTRAVENTION OF THE RATIO IS NOT IN ITSELF AN OFFENCE, BUT FAILURE TO REPORT THE CONTRAVENTION, OR TO CARRY OUT REMEDIAL ACTION REQUIRED BY THE COMMISSIONER, IS AN OFFENCE.
TIMING
THE BILL WILL BE INTRODUCED INTO THE LEGISLATIVE COUNCIL ON MARCH 19. WHEN THE FINANCIAL SECRETARY WILL SPEAK ON IT BEFORE THE SECOND READING DEBATE IS ADJOURNED. A REASONABLY LONG PERIOD WOULD BE ALLOWED FOR DETAILED SCRUTINY OF THE BILL AND REPRESENTATION BY INTERESTED PARTIES, BEFORE RESUMPTION OF THE DEBATE IN THE COUNCIL IN MAY.
PUBLIC COMMENTS ON THE BILL MAY BE SENT TO UMELCO, AT LEGISLATIVE COUNCIL BUILDING, 8 JACKSON ROAD, HONG KONG, OR TO THE SECRETARY FOR MONETARY AFFAIRS, AT ADMIRALTY CENTRE, TOWER 11, 24TH FLOOR, HARCOURT ROAD, HONG KONG.
CHINESE JLG TEAM DUE SUNDAY
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THE CHINESE TEAM OF THE JOINT LIAISON GROUP WILL BE ARRIVING IN HONG KONG BY FLIGHT CA 101, ETA 10.20 AM ON SUNDAY (MARCH 9).
THE SENIOR REPRESENTATIVE OF THE BRITISH TEAM, DR DAVID WILSON, WILL MEET THE GROUP AT THE AIRPORT.
NOTE TO EDITORS:
PHOTOGRAPHIC FACILITIES HAVE BEEN ARRANGED FOR MEDIA PEPRESENTATIVES TO COVER THE ARRIVAL OF THE CHINESE TEAM.
MEDIA REPRESENTATIVES SHOULD ASSEMBLE AT THE AIRPORT PRESS ROOM BEFORE 9.30 AM ON SUNDAY.
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